U.S. futures slide lower in cautious trade; Dow Jones down 0.34%

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Investing.com - U.S. stock futures pointed to a lower open on Friday, as mounting tensions in Iraq and Ukraine continued to drag global equity markets broadly lower.

Ahead of the open, the Dow 30futures pointed to a 0.34% fall, S&P 500futures signaled a 0.40% loss, while the Nasdaq 100futures indicated a 0.40% decline.

Markets were jittery after U.S. President Barack Obama on Thursday authorized air strikes in Iraq to put an end to an onslaught by Islamic militants and begun military air-drops of humanitarian supplies to besieged religious minorities to prevent a "potential act of genocide".

Separately, Moscow banned imports of most food from the West in retaliation against sanctions against it over Ukraine.

Visiting Kiev this week, NATO's secretary general says that Moscow has massed troops on the country's border with Ukraine in preparation for a possible ground invasion.

In earnings news, CBS Corp (NYSE:CBSa) reported second-quarter profit that exceeded analysts' estimates, helped by share repurchases. The company also doubled its buyback and raised the dividend, sending shares up 0.18% in after-hour trade.

Zynga Inc (NASDAQ:ZNGA) saw shares plummet 7.53% in early trading after the online game company posted quarterly results at the low end of its forecast and cut its full-year outlook following the decision to delay new games.

News Corp (NASDAQ:NWSA) was also likely to be active after reporting quarterly earnings below analysts' predictions for the first time, due to difficulties in transitioning from print to digital.

Elsewhere, Lululemon Athletica (NASDAQ:LULU) surged 6.07% in extended trade after founder Chip Wilson agreed to sell half of his stake in the yogawear retailer to Advent International Corp. for $845 million and forgo pursuing a buyout for at least year, ending a fight with the board.

Among energy stocks, Exxon Mobil (NYSE:XOM) edged up 0.08% after hours as it and its Russian partner OAO Rosneft were reportedly planning to start exploration drilling in Russia's Kara Sea, ignoring diplomatic tensions between the U.S. and Russia.

Across the Atlantic, European stock markets were lower. The DJ Euro Stoxx 50 dropped 0.53%, France's CAC 40 declined 0.47%, Germany's DAX tumbled 0.92%, while Britain's FTSE 100 slumped 0.76%.

During the Asian trading session, Hong Kong's Hang Seng fell 0.23%, while Japan's Nikkei 225 plunged 2.98%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



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